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Straits Trading
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Straits Trading 20% dividend worth to buy now?
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Spivvy
Elite |
12-Sep-2014 13:56
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wooohoooo straits trading big strong company, whoever vested i envy becos get to reap entire life of dividends, every year confirm got at least 4cents per share inside bank account. hopefully straits trading is interested to takeover adventus lei... pls pls pls.. hope for the best.
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stockeers
Member |
12-Sep-2014 12:26
Yells: "Trade everything moderately!" |
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whoa, drop like hell, what happen today? |
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kirana
Senior |
12-Sep-2014 11:55
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Seems like Straits Trading also tempted to swallow UE? |
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stockeers
Member |
08-Sep-2014 13:16
Yells: "Trade everything moderately!" |
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Tussle for WBL: what was it all for? 08 Sep 2014 08:50
Tussle for WBL: what was it all for? Section: COMPANIES By: CAI HAOXIANG Publication: The Business Times 30/08/2014 COMENTARY UE pays through its nose to take over WBL, only to sell parts of it a year later Cai Haoxiang [email protected] @HaoxiangCaiBT Correspondent PERHAPS there were forces beyond his control. But when then United Engineers (UE) chief executive Jackson Yap announced that his property and engineering firm was going to fight fellow shareholder Straits Trading for control of WBL Corp in January 2013, he gave other reasons to justify what, in hindsight, was essentially a quest to unlock value for OCBC. Straits Trading had triggered a mandatory takeover offer for WBL a few months earlier after it increased its stake to about 45 per cent. OCBC, which owned about 38 per cent of WBL with related parties, expressed concern that the offer was too low. UE, owned by OCBC but with no shares in WBL, jumped into the fray with a higher bid, supported by the OCBC parties. It surprised the market. Mr Yap told reporters the proposed acquisition was " transformational" and a " quantum leap" . WBL' s renowned luxury auto distribution business, Wearnes Automotive, would give UE a stream of recurring earnings to smooth out its lumpy property development cashflow. Meanwhile, as a Singapore developer, UE could enter China using WBL' s fledgling property development arm. There were whispers of China land acquired by WBL for cheap. Straits Trading refused to sell its stake and let its own offer lapse. Both sides bought more shares, but were headed for a deadlock. Eventually, UE had to raise its offer again. Straits Trading sold its WBL stake for a cool half a billion in cash, pocketing an S$83 million profit. Assets for sale All this is moot, barely a year after UE incurred a ton of debt to fund the acquisition, followed by a one-for-one rights issue where proceeds of almost half a billion went into paying off debt. In a year, Wearnes has gone from expensive takeover target to non-core asset. In the past month, UE is selling what it can of WBL. First to go was mainboard-listed MFS Technology, divested in August to a private equity fund for S$124 million. Next was Wearnes Automotive for S$455 million, to StarChase Motorsports (Singapore), a car distributor linked to Malaysian timber conglomerate Samling. After that might come Nasdaq-listed printed circuit board maker Multi-Fineline Electronix, or MFlex, which could be worth at least S$100 million - though there seems to be no takers for the loss-making firm yet after almost two years of it being on sale. The Chinese property that WBL held was also reportedly for sale - valued at S$400 million by KPMG in 2013. There' s also the engineering, manufacturing and distribution division, valued by KPMG at about S$200 million. Even as UE dismantles WBL, UE itself might also be split up. OCBC and related parties are negotiating exclusively with Thai tycoon Charoen Sirivadhanabhakdi to sell their stakes in UE and WBL to him. The sale could trigger a mandatory takeover offer. Essentially, what OCBC is doing is classic corporate finance. Selling disparate parts to people who need them can achieve a better price than lumping them together into a conglomerate. The UE divestment comes two years after OCBC and parties also divested stakes in Fraser & Neave (F& N) and Asia Pacific Breweries (APB) to parties linked to Mr Charoen. With the UE sale, OCBC will get a bit more cash to fund its S$6.2 billion acquisition of Hong Kong' s Wing Hang Bank. But more capital is needed. OCBC is estimated to require an additional S$3 billion of capital come December 2018 to comply with the new Basel III capital requirements. Given that corporations globally are cash-rich and deal activity has been increasing, the question turns to which other OCBC-linked assets can be sold. Other than the Great Eastern insurance arms, there is still Orchard Gateway (valued at S$618 million at end-2013), The Waterside condo (S$266 million) and 2 Mt Elizabeth Link, the serviced residence block by the hospital (S$190 million). Winners and losers In every asset mega-sale, there will be winners and losers. The lawyers and bankers involved will be making their fees, for example. UE shareholders might have nothing to complain about, as private investor Mano Sabnani pointed out. Even if they have bought the stock at UE' s peak of S$3.40 last year, they will be sitting on gains right now, assuming they paid for the subsequent one-for-one rights issue of S$1.50 a share. Their total cost is S$4.90 for two shares. Each UE share now is trading at S$2.80, up dramatically from S$1.80 earlier this year. Even if an investor had bought at the peak last year, he is sitting on a profit of more than 10 per cent. However, with every sale or privatisation of a home-grown asset, the loser is arguably the Singapore market. Too many homegrown companies to count have delisted in recent years. These are companies that Singaporeans could invest directly in, take part in their growth, and fund their retirement at the same time. Singapore-listed companies like Brand' s Essence of Chicken maker Cerebos Pacific, sticker printer Adampak, instant coffee maker Viz Branz, Tiger Beer maker APB, and now Wearnes are gone. So are major property plays like Singapore Land and Guthrie GTS. Even homegrown bar chain Harry' s Holdings went to a private equity fund less than two years after being listed on Catalist. These companies took decades to build up. What is left to replace them? Of course, knotty issues like low liquidity and poor valuations force management and directors to turn to other ways to boost shareholder value. Intangible issues of heritage or pride matter less in a globalised world. Singaporeans, indeed, can invest in a Singapore company indirectly through the overseas listed company that bought it, if they are savvy enough. As for OCBC, it is arguably selling all its non-banking assets for a higher cause - expanding into China. After all, the old political dictum applies to business: there are no permanent companies, nor permanent estates - only permanent interests. With every sale or privatisation of a homegrown asset, the loser is arguably the Singapore market. Too many homegrown companies to count have delisted in recent years. These are companies that Singaporeans could invest directly in, take part in their growth, and fund their retirement at the same time. |
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stockeers
Member |
08-Sep-2014 09:28
Yells: "Trade everything moderately!" |
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DJ Singapore' s Straits Trading to Sell Building for S$450 Million05 Sep 2014 18:11
DJ Singapore' s Straits Trading to Sell Building for S$450 Million By Gaurav Raghuvanshi SINGAPORE--Straits Trading Co. on Friday said it signed a deal to sell its building in Singapore to Sun Venture Group for 450 million Singapore dollars (US$359 million). The transaction is expected to be completed by the end of the year, Straits Trading said in a statement to Singapore Exchange. Straits Trading started as a tin-smelting company in 1887 and has since diversified into real estate, hospitality and investments, according to the company' s website. It is listed on the Singapore Exchange. " The monetization is in line with the company' s strategy of redeploying its capital from its portfolio of high-quality, but low- yielding investment properties into potentially higher-return real estate opportunities," Straits Trading said. |
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stockeers
Member |
28-Aug-2014 09:01
Yells: "Trade everything moderately!" |
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Thanks for the link, moneyplant... yeah I read it, according to DBS, the acquisition remains limited. Straits Trading Building unlikely to be bought by Suntec REIT: report An acquisition is unsustainable in the long term. Mainboard-listed Suntec REIT is unlikely to buy the iconic Straits Trading Building, after reports circulated yesterday that the building may be sold for $450m. DBS has mooted the possibility that the Straits Trading Company (STC) will sell the asset to Suntec REIT, due to STC&rsquo s tie-up with Suntec REIT&rsquo s manager ARA Asset Management. A report by DBS notes that the properties $450m price tag is hefty compared to its $400m valuation as of the end of 2013. This means that a probable dal will only be marginally accretive to Suntec REIT. Financing the deal through debt funding is also going to raise Suntec REIT&rsquo s gearing to around 40%, which is unsustainable in the long term. &ldquo Although the Straits Trading Building is widely anticipated to be acquired by Suntec REIT, a sale to a 3rd party while may have a negative impact on the value of ARA&rsquo s total AUM is not a worse case scenario. This further reaffirms the group&rsquo s focus on extracting maximum value from assets under its management vs. simply retaining them for the purpose of generating management fees. For Suntec REIT, given the high capital value of its office assets in Singapore, we believe that near-term acquisitions will remain limited,&rdquo noted DBS.
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stockeers
Member |
28-Aug-2014 08:59
Yells: "Trade everything moderately!" |
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Yeah... the movement isnt high enuf
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moneyplant
Master |
28-Aug-2014 08:18
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http://m.sbr.com.sg/commercial-property/news/straits-trading-building-unlikely-be-bought-suntec-reit-report
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moneyplant
Master |
28-Aug-2014 08:05
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Last news is that the have no REIT buying | ||||
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kirana
Senior |
27-Aug-2014 20:33
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If price moved from 2.88 to 3.01, howis it possible to grant a 50 cts dividend? |
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Spivvy
Elite |
27-Aug-2014 15:19
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when did they sold off the building? Can expect 50c dividends?
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stockeers
Member |
27-Aug-2014 15:17
Yells: "Trade everything moderately!" |
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price movement from 21 aug low 2.88 to today high 3.01 |
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kirana
Senior |
27-Aug-2014 14:14
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Hi John! The stock price didn' t move up that much. |
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johnng
Supreme |
27-Aug-2014 08:01
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when they sold off their commerical building asset at 9 BATTERY ROAD for $450m! shareholders expected to reap big time dividends |
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Spivvy
Elite |
27-Aug-2014 00:26
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When?
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johnng
Supreme |
26-Aug-2014 17:43
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SPECIAL DIVIDEND in the pipeline |
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Octavia
Supreme |
09-Apr-2014 09:01
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Straits Trading
INCORPORATION OF SUBSIDIARY The Company wishes to announce that it has today, through Straits Real Estate Pte. Ltd., incorporated a new subsidiary, SRE Venture 1 Pte. Ltd. (&ldquo SRE Venture 1&rdquo ), in Singapore. The principal activity of SRE Venture 1 is that of investment holding. The initial issued and paid-up share capital of SRE Venture 1 is SGD1, comprised in one ordinary share. Accordingly, the book value and net tangible asset value of the share of SRE Venture 1 is SGD1. The incorporation of SRE Venture 1 is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the financial year ending 31 December 2014. None of the directors or substantial shareholders of the Company have any interest, direct or indirect, in the above incorporation other than through their respective shareholdings in the Company. |
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Octavia
Supreme |
03-Mar-2014 09:42
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4Q13 net profit turned around y/y to $12.6m from loss of $39.5m, while revenue halved to $154.4m, on a 40% decline in resources segment led by lower sales of refined tin, 83% slump in property revenue on lower sales of development properties and lower rental revenue, partially mitigated by a $91.8m gain on disposal from US Centennial Venture. Group declared interim DPS of 4¢, bringing FY13 DPS to 54¢. | ||||
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Octavia
Supreme |
28-Oct-2013 21:41
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Singapore conglomerate Straits Trading Co Ltd will acquire a 20.1 per cent stake in Singapore-listed ARA Asset Management Ltd for S$294.4 million (US$238 million) from Cheung Kong Investment Company and a firm fully-owned by ARA's Chief Executive John Lim.
" This strategic alliance in real estate will enable STC to unlock value from its property business and create new avenues to expand and diversify its real estate portfolio," Straits Trading said in a statement on Monday. ARA also made the announcement in a separate statement. ARA is an affiliate of Hong Kong tycoon Li Ka-Shing's Cheung Kong Group and manages a number of real estate investment trusts. " ARA will also manage STC's entire investment property portfolio (other than hospitality-related assets) as a separate account subject to signing of definitive agreements," STC said. |
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oceanblue
Veteran |
28-Oct-2013 09:45
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Trading halt? Hope got good news. | ||||
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